Group to provide information about GMAC Short Sale programs and discuss mortgage short sales with GMAC
Website: http://www.Short-Sale-Specialists.com
Members: 231
Latest Activity: Apr 25, 2014
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We have set up this group to discuss short sales with GMAC and to provide information and resources, and share experiences with GMAC mortgage Short Sale Programs and Processes.
Attention Buyers and Sellers!!
The First Place to start is to find a local GMAC Short Sale Agent!
There is no cost involved in this!
Share your experiences about GMAC Short Sales Below!
Started by Juanita Brooks. Last reply by Ginny Vickers Aug 23, 2012. 6 Replies 0 Likes
Does GMAC want all the offers to be presented or 1 offer at a time? We have an agent that is telling that GMAC wants all offers signed and presented. If you can help me whith this information that…Continue
Started by Frederick Tazartes. Last reply by Ben Benita Apr 17, 2012. 1 Reply 0 Likes
Does anyone know if GMAC is active on Twitter, I know when I am ready to give up with BofA I can tweet and they seem to always present new options.Continue
Started by Mohammed. Toaha. Last reply by ROODY CASSEUS Mar 4, 2012. 1 Reply 0 Likes
Your advice would be much appreciated.Continue
Started by Karen M Riscinto. Last reply by Karen M Riscinto Dec 21, 2011. 2 Replies 0 Likes
I have a shortsale and just received a very good offer, I have tried to start working with GMAC for mths and have sent my authorization in 6 times with the husbands death certificate. The wife is…Continue
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Has anyone ever processed a GMAC shortsale through Equator? I was told that's where to do it but GMAC is not one of the servicer options. Help?
Does anyone have a phone number for an upper management level person at GMAC? We have a very good offer (above list price) and the Buyers are not asking for any closing costs. GMAC is only offering $6,000 to the 2nd and the 2nd will not take it. They want $10,000. Sellers have no money to contribute. I hate to lose this deal over $4,000, but I need someone with some "weight" to step in and help me. Thanks to any and all help! Deb
Need VP or manager contact information for loss mitigation to escalate file
I have completed many, many short sales. I just submitted a GMAC short sale package directly to GMAC. I was shortly thereafter contact by a 3rd-party negotiator from REDC. There is only a 1st Mortgage and it is not a FNMA/Freddie Mac loan. After contact with the negotiator from REDC, Equator showed my commission was cut to 5% and the 3rd party negotiator was to receive
$2500. I have not had a bank reduce my commission to 5% on a short sale in two years. I guess they don't understand that Realtors have a long memory and when this market turns around, GMAC's name will be probably not be on our minds when giving out potential lender names! Has anyone dealt with REDC? I too was able to get Wells Fargo to raise my commission two years ago back to 6% when they tried to cut it to 5%, but have not submitted a short sale to GMAC. Most of my short sales are BOA and Wells Fargo which are great to work with.
Another great successful close on a short sale with GMAC! APPROVED in less than 30 days! NO Joke! I submitted a clean package, and got assigned a negotiator, and an approval was faxed over to me. :) Happy Camper my buyers and sellers..
ps; also got my sellers a seller credit of 3800 dollars...
Well, my best experiences are with distressed asset investors who are trying to get return from the deeply discounted asset they purchased. I actually has one say to me: "You know, Michael, if you need a couple thousand dollars to get the deal done, we can do that".
Of the four major Servicers (BofA, Morgan-Chase, Wells and Citi), if I were required to choose one, I would choose BofA.
Regarding the "across the board" GMAC experiences, it's going to be highly Investor/Insurer specific, I think.
Whats the best company to work with to get short sales?
Started by Juanita Brooks. Last reply by Ginny Vickers Aug 23, 2012. 6 Replies 0 Likes
Started by Frederick Tazartes. Last reply by Ben Benita Apr 17, 2012. 1 Reply 0 Likes
Started by Mohammed. Toaha. Last reply by ROODY CASSEUS Mar 4, 2012. 1 Reply 0 Likes
Started by Karen M Riscinto. Last reply by Karen M Riscinto Dec 21, 2011. 2 Replies 0 Likes
Started by Kathy Wegwert. Last reply by Karen M Riscinto Dec 21, 2011. 8 Replies 0 Likes
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